Cryptophiles also have their tax havens. In Europe, among the countries that tax the least, or even none, the capital gains made by taxpayers with cryptocurrencies, we find Belgium, Luxembourg, Switzerland and Portugal. But that could soon change for the latter country. According to information from Portugal.com relayed by The corner newspaperTuesday, May 17, the new Portuguese Minister of Finance, Fernando Medina, announced that cryptocurrencies will soon be subject to tax.
Until now, the country considers cryptocurrencies as a means of payment and not an asset, even though they are not legal tender there, explains Le Journal du coin. In fact, their holders do not pay taxes or taxes on their winnings. Only companies that provide crypto services are actually taxed, between 28 and 35% on their capital gains. This could therefore soon change since the Portuguese government is considering taxing the gains generated by virtual currencies, without yet specifying the details of this taxation. Capital gains could also be subject to other taxes such as VAT or stamp duty, explains Le Journal du coin.